Advance Inheritance against Real Estate in Probate.
Advance inheritance can be obtained by heirs and beneficiaries against estates held in probate. When a person dies, all of their assets are transferred to probate where a judge must assess the inventory and ensure it is divided according to the decedent's Last Will and Testament. If a person dies without a Will (intestate), the judge will distribute inheritance property according to state laws.
Advance inheritance is not a loan and does not have to be paid back by the person who borrows funds. Instead, advance cash lenders are reimbursed for the full amount when the estate is settled. For this reason, beneficiaries cannot receive the full amount of inheritance monies due to them. Typically, lenders cap the inheritance advance at 70- to 85-percent of the amount due to the beneficiary.
Lenders who provide advance inheritance notes are taking considerable risk. Therefore, in order to obtain cash against anticipated inheritance, beneficiaries will be required to provide considerable documentation. Generally, this includes providing the funding company with a copy of the decedent's Will, probate petition, inventory and appraisement statement, and death certificate.
When heirs wish to obtain advance inheritance against real estate owned by the decedent, a real estate listing or sales contract and proof of property insurance must be provided to the lender.
The lending source will obtain a credit report for heirs seeking inheritance advances. If the applicant has outstanding judgments, child support, taxes or bankruptcy proceedings they may not qualify for advance inheritance lending.
Cash inheritance advances are beneficial to heirs entitled to assets held in probate because they provide immediate funds. Depending on the complexity of the decedent's estate, probate can take several months or even years to settle.
The process of obtaining advance inheritance generally takes 2 to 3 weeks. After documentation of the estate has been verified, advance inheritance distributions typically occur within 3 to 5 business days. Instead of waiting months or years for probate to settle, beneficiaries can receive the majority of their inheritance in less than 30 days.
If you are considering obtaining inheritance cash advance, Simon Volkov can assist in you obtaining funding. You can get started today by providing information about your inheritance through the secure Cash for Inheritance form. Simon will review your situation and assist you in determining if advance inheritance is best suited for your needs.
Published on August 31, 2008 at 04:39 PM
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